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Jul 11, 2013, 05:41 PM
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The inflation generation


The oracle of MIT had a nugget of information about starting your own business:

http://philip.greenspun.com/business/startup-tips/

If all you've done is make steady paychecks from someone else since 2000, you're probably worth absolutely zero now. That's why you're the inflation generation.

Unless you're Mark Zuckerberg, you'll normally get a better return on investment from the stock market than starting a business. A rich dad cannot be underestimated. I've never seen any business succeed without a rich dad, regardless of knowing how to do something no-one else can. Nowadays, anyone can know anything, so your only leverage becomes a rich dad.

People on the street generally think they come up with an idea, pitch the idea to investors, & the investors provide the seed money to start generating revenue. Unfortunately, it doesn't work that way except in the movies.

No venture capitalist will ever fund a business until after it's already generating revenue. It doesn't have to be profitable, but it has to already be selling something. You can pound the pavement all you want & have the key to anti gravity, but it won't happen until you make money on your own. They're stodgy, unimaginative bankers who wouldn't recognize Jesus if he landed on their Shenzou, but that's why China is #1 & the rest of the world cooks their fries.

The dilemma is as soon as you sell something, it's copied & becomes worthless. The initial product is basically a freebee to impress investors. Then you pitch an upgraded version to raise money. Chris Anderson sold junk thermopile autopilots for years before investors finally gave him money to develop the razor sharp Ardupilot 3.0. How to produce enough of something to sell enough of it to make money is why success almost entirely depends on having a rich dad.

There may have been a time when earning steady paychecks would allow you to accumulate enough to make enough of a product to shock customers into concentrating their wealth into you instead of the 5000 knockoffs. For many reasons involving the tax code, inflation, globalization, the nature of human governments, that doesn't work anymore.

All the seed money that is to exist in US's private sector was basically handed out many years ago & that door was closed. You have to be a beneficiary of it, steal it, or be extremely lucky or you are just going to be a wage slave with a side business that's really a hobby.
Last edited by Jack Crossfire; Jul 11, 2013 at 07:11 PM.
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